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The Handbook of Mathematical Economics aims to provide a definitive source, reference, and teaching supplement for the field of mathematical economics. It surveys, as of the late 1970's the state of the art of mathematical economics. This is a constantly developing field and all authors were invited to review and to appraise the current status and recent developments in their presentations. In addition to its use as a reference, it is intended that this Handbook will assist researchers and students working in one branch of mathematical economics to become acquainted with other branches of this field. Volume I deals with Mathematical Methods in Economics, including reviews of the concepts and techniques that have been most useful for the mathematical development of economic theory. Volume II elaborates on Mathematical Approaches to Microeconomic Theory, including consumer, producer, oligopoly, and duality theory, as well as Mathematical Approaches to Competitive Equilibrium including such aspects of competitive equilibrium as existence, stability, uncertainty, the computation of equilibrium prices, and the core of an economy.
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The two founding principles were that the system would be based on scientific observation and that it would be a decimal system. A distinguished commission of the French Academy of Sciences, including J. L. Lagrange and Pierre Simon Laplace, considered the unit of length. Rejecting the seconds pendulum as insufficiently precise, the commission defined the unit, given the name metre in 1793, as one ten millionth of a quarter of the earth's meridian passing through Paris. The proposal was accepted by the National Assembly on March 26, 1791.
As we begin the new millennium, there should be a renewed national effort to promote the use of SI metric units throughout industry, and to assist the general public in becoming familiar with the system and using it regularly. The schools have taught the metric system in science classes for decades. It is time to put aside the customary units of the industrial revolution and to adopt the measures of precise science in all aspects of modern engineering and commerce, including the United States space program and the satellite industry.
Troy weight was the standard for the minting of coins. Congress could be ambivalent about nonuniformity in standards for trade, but it could not tolerate nonuniformity in its standards for money. Therefore, in 1827 a brass copy of the British troy pound of 1758 was secured by Ambassador to England and former Secretary of the Treasury, Albert Gallatin. This standard was kept in the Philadelphia mint and lesser copies were made and distributed to other mints. The troy pound of the Philadelphia mint was virtually the primary standard for commercial transactions until 1857 and remained the standard for coins until 1911.
